Put your equity to use
Second Mortgage Loans
Second mortgages
A second mortgage is a type of loan that allows you to leverage the equity you already have in your home to obtain funds for a variety of projects or plans. If your primary mortgage has a low rate you’d like to keep, but you want to use your equity to get cash, a second mortgage might be a good option for you.
Second mortgage loan interest rates
Second mortgage
30-yr fixed with 15-yr balloon
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Second mortgage
20-year fixed rate
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Second mortgage
15-year fixed rate
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Low-rate second mortgages
Benefit from our competitive rates when you choose a long-term option.
- Borrow a lump sum and enjoy a fixed payment.
- Get a fixed term and rate.
- Receive up to 95% combined loan-to-value financing.*
- Opt to roll closing costs into your loan.*
- Select from various terms.
Looking for an option with a shorter term and no fees? Check out our home equity loan program.
Second Mortgage FAQs
What is a second mortgage?
A second mortgage is a loan that is taken out in addition to your primary mortgage on the same property. If your primary mortgage has a low rate you’d like to keep, but you want to use your equity to get cash, a second mortgage might be a good option for you.
How can a second mortgage benefit you?
Many people utilize a second mortgage to cover major expenses. These could include home renovations, debt management, investment opportunities, medical expenses, yard updates or educational costs.
Second mortgages can be a lower-cost alternative to high-interest personal loans or credit cards.
What are the requirements for a second mortgage?
To qualify for a second mortgage, it is important to have strong credit, a low debit-to-income ratio and sufficient equity in your home. Calculate your equity to see where you sit today.
How do I apply for a second mortgage?
Start the process of obtaining a second mortgage by determining how much you can borrow and preparing the necessary documents. Meet with a loan officer to begin your application and receive step-by-step guidance.
